M&A Deal Summary

MidFirst Bank Acquires 1st Century Bancshares

On March 10, 2016, MidFirst Bank acquired financial services company 1st Century Bancshares

Acquisition Highlights
  • This is MidFirst Bank’s 5th transaction in the Financial Services sector.
  • This is MidFirst Bank’s 5th transaction in the United States.
  • This is MidFirst Bank’s 1st transaction in California.

M&A Deal Summary

Date 2016-03-10
Target 1st Century Bancshares
Sector Financial Services
Buyer(s) MidFirst Bank
Deal Type Merger
Advisor(s) Sandler O'Neill + Partners (Financial)
Sullivan & Cromwell
Richards, Layton & Finger (Legal)

Target

1st Century Bancshares

Los Angeles, California, United States
1st Century Bank is a nationally-chartered, commercial bank based in the Century City area of West Los Angeles. 1st Century focuses on providing a wide range of banking services to small and medium-sized businesses, their owners and employees.1st Century Bank operates three locations in the Los Angeles, California market, serving the unique needs of businesses and professionals on the Westside of Los Angeles, and is distinguished as the premier private bank in the area. 1st Century Bank was established in 2004 by a team of entrepreneurs, banking veterans, and local leaders. As of December 31, 2015, 1st Century Bancshares had assets totaling $732 million, net loans of $589 million and deposits of $598 million.

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Buyer(S) 1

Buyer

MidFirst Bank

Oklahoma, Oklahoma, United States

Category Company
Founded 1954
Sector Financial Services
DESCRIPTION

MidFirst provides a full range of business, private banking, trust, personal banking, and mortgage banking products and services.


DEAL STATS #
Overall 5 of 6
Sector (Financial Services) 5 of 6
Type (Merger) 1 of 1
State (California) 1 of 1
Country (United States) 5 of 6
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-07 Steele Street Bank & Trust

Denver, Colorado, United States

Steele Street Bank & Trust Offers flexible financial products and services can be customized to meet your individual needs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-08 Amerant Bank - Houston Banking Locations

Houston, Texas, United States

Amerant Bank's Houston Banking Locations is a provider of banking services in Houston, Texas.

Buy -